16 finalists will pitch live in Buffalo for shot at $1 million grand prize

Submitted

Tue, Oct 4th 2016 06:50 pm

On Monday, Gov. Andrew M. Cuomo today announced the
16 finalists for 43North - a $5 million competition designed to encourage
entrepreneurs with high growth potential to compete for enterprise funding in
Western New York. The finalists will first pitch to more than 30 national
investors and venture capitalists who will narrow the field to 10. The
remaining 10 finalists then move on to compete in front of a panel of expert
judges for a chance at the $1 million cash prize.

"43North continues to draw some of the world's
best, brightest and most innovative entrepreneurs to Buffalo - helping to
remake the city and revitalize Western New York's economy -- and the best is
yet to come," Cuomo said. "I look forward to the third year of this
competition and the additional excitement and momentum it provides to a city
that continues to be on the move."

The competition's top competitor will win a $1
million cash prize, while first runner-up will win $600,000, and six
third-place winners will receive $500,000. In addition to the cash prizes,
winners will receive free space at the 43North incubator on the Buffalo Niagara
Medical Campus for one year, guidance from mentors in related fields, access to
other business incentive programs and the opportunity to apply for up to
$400,000 in follow-on funding in 2017.

This year, for the first time, the 43North Finals
will be divided into three rounds, between Wednesday, Oct. 26, and Thursday,
Oct. 27. During the awards celebration, members of the public will be invited
to vote via text message for their favorite finalist to win the People's Choice
Award. The finalist with the most votes will receive an additional $10,000 on
top of the cash prize.

All rounds are open to the public and tickets are
free, but registration is required. Registration is now open at 43North.org. The
schedule is as follows:

•Finals qualifying round, 11 a.m. to 4 p.m. Oct. 26,
The Atrium @ Rich's, Buffalo: Sixteen finalists will pitch to 43North's finals
judges - a group of more than 30 venture capitalists, angel investors and
entrepreneurs - for the chance to be one of the 10 companies in 43North's
finals award round.

•Finals award round, 8:30 a.m. to 1 p.m. Oct. 27, Shea's
Performing Arts Center, Buffalo: Ten Finalists will pitch to 43North's finals
award judges - a group of some of the brightest minds in venture capital and
entrepreneurship - for a shot at one of 43North's eight cash prizes.

•Finals $1 million round and awards celebration, 6-9
p.m. Thursday, Shea's Performing Arts Center, Buffalo: 43North's top three finalists
will pitch live onstage for either the $1 million grand prize, $600,000
runner-up prize or one of 43North's six $500,000 prizes.

Bill Maggio, 43North board chair,
said, "From the moment 43North launched its 2016 competition, this
organization has been laser-focused on one goal: finding the highest-quality
startups to compete in our finals. I am tremendously pleased with the caliber
of the 16 companies that will stand onstage on Oct. 26 and 27, and I look
forward to seeing which finalists rise to the top to become 43North winners."

New York Power Authority Chairman John R. Koelmel
said, "The New York Power Authority is extremely proud to once again
support 43North as part of Gov. Cuomo's 'Buffalo Billion' initiative. By
providing funding to this incredible competition, we are furthering the
economic resurgence that is happening in Buffalo and Western New
York."

Empire State Development President, CEO and
Commissioner Howard Zemsky said, "The 16 startups that will make
their pitch in 43North's finals are tangible evidence that Gov. Cuomo's vision
for a revitalized Buffalo is steadily becoming reality. Western New York has a
newfound confidence, thanks to a startup ecosystem that attracts and cultivates
startups, businesses and investors from around the globe."

Western New York Regional Economic Development
Council Co-Chair and SolEpoxy Inc. President Jeff Belt said, "Over
the past three years, 43North has leveraged our region's economic growth and
brought promising startups to Western New York. This year is no exception. I
wish all the finalists luck in their pitching and look forward to the
innovations and advancements they will bring to Buffalo."

Western New York Regional Economic Development
Council Co-Chair University at Buffalo Satish K. Tripathi said, "Thanks
to Gov. Cuomo, 43North has once again made Buffalo a destination for business
and startups to grow, advance and evolve their ideas. Western New York is a
supportive and welcoming place for entrepreneurs, and 43North continues to
uniquely position Buffalo as a city on the rise."

The 16 finalists for 2016 (in their own words):

Abcombi
Biosciences
(Hometown: Buffalo): Imagine the production of safe, effective, global vaccines
and therapeutics made locally. Abcombi Biosciences has the technology, team and
drive to enact this vision, allowing a new brand of solutions for the health
challenges of today and tomorrow.

Andromium (Hometown: San Francisco): Andromium
is building a future where the only computer you'll need is your smartphone.
Founded by Google and Y Combinator alumni, Andromium's software makes Android
function like a familiar desktop by just downloading an app.

Arthena (Hometown: New York City): Arthena
invests in the most liquid segment of the art market, yielding tremendous
uncorrelated growth. We give you access to the alternative asset class with the
highest barrier to entry and strongest historical returns. Our strategy relies
on automated and data driven results.

Asarasi (Hometown: Katonah, New York):
Asarasi has developed a completely new source of water to help replace the
consumption of fresh ground water. Our water is harvested from trees and does
not affect ground water resources. It is sustainable and renewable. Asarasi is
pioneering the recovery and bottling of this biologically pure water.

Bounce Imaging (Hometown: Boston): Bounce
Imaging's 360-degree throwable cameras give first-responders critical
intelligence as they enter dangerous spaces to keep us safe. Whether a police
officer responding to a shooting or rescue worker digging through earthquake
rubble, users get instant 360/VR video right to their smartphone, letting them
see the dangers ahead.

Formarum (Hometown: Toronto): Formarum
has developed a turbine technology that allows for creation of self-powered and
self-contained devices, which can be effortlessly installed in pipes and
eliminate all external components, including control panels, electrical cables
and communication modules. This capability greatly reduces upfront costs, and
significantly simplifies the purchasing and installation process.

HigherMe (Hometown: Boston): HigherMe
helps retail and hourly employers hire better employees faster. We offer a
suite of software that makes hiring more efficient, all layered on top of an
industry-specific network of candidates. Companies like Dunkin' Donuts and
Panera Bread trust us with the most important part of their operation: their
people.

NeoReach (Hometown: San Francisco): NeoReach
is the leading social media influencer marketing platform. As TV becomes less
effective and more and more people use Ad block, big media companies are
turning to social media influencers to promote their brand. Customers like Wal-Mart,
FOX and NBC use NeoReach to search influencers, manage campaigns and track
results.

Oncolinx (Hometown: Boston): Oncolinx,
in conjunction with the National Cancer Institute, is developing targeted
cancer immunotherapies: antibody-drug conjugates. Oncolinx ADCs carry a
patented, immune-activating drug payload called the Azonafide directly to the
tumor. The Oncolinx platform is partnered with 14 leading pharmaceutical
companies and is planned to enter clinical trials in mid-2017.

PathoVax (Hometown: Baltimore): PathoVax
is commercializing RGVax, a low-cost vaccine preventing all HPV-associated
cancers. Current vaccines focus on sexual transmitted types, resulting in low
uptake due to incomplete coverage and social stigma. RGVax's protection covers
all oncogenic HPVs and the added skin HPV protection positions RGVax as a
childhood vaccine with superior uptakes.

WeDidIt (Hometown: Brooklyn): WeDidIt
helps nonprofits raise more money and reach new donors online. The software
service takes the hassle out of online fundraising and makes donor research
simple and powerful. WeDidIt's platform aggregates donor data so that
nonprofits can automate their prospect research and launch highly targeted fundraising
campaigns.

For a full list of sponsors and more information
about 43North, visitwww.43north.org.